U2’s Bono Just Invested in a Food-Tech Startup

U2 frontman Bono and lead guitarist The Edge performed together for years until they became world-renowned rock stars. The musicians are now collaborating again, this time as food-tech investors.

The duo has invested an undisclosed amount in two-year-old Irish startup Nuritas, the company announced on Tuesday. Nuritas uses artificial intelligence and DNA analysis to discover food molecules that can be used to develop supplements and drugs.

The company recently received €3 million ($3.7 million) in funding from the European Union to trial and market a breakthrough food ingredient that could be used to prevent diabetes. It plans to roll out a series of clinical trials over the next 18 months. The latest investment will also help Nuritas triple its Irish workforce and continue its U.S. expansion after opening a San Francisco office earlier this year.

Bono and The Edge are no strangers to the startup world. In 2004, Bono, whose real name is Paul Hewson, co-founded private equity firm Elevation Partners where he invested in companies like Facebook and Yelp. An early investor in Facebook, it’s estimated he walked away with approximately $43 million when the tech company went public. (The Edge, whose real name is David Evans, was reportedly also a benefactor of Elevation Partners, but his level of involvement is unclear.) Bono also served as an adviser to private equity firm TPG Capital.

In 2012, Bono and The Edge poured money in Dropbox’s $250 million second round. Though their newest investment is not as prominent as Facebook or Dropbox, it seems to align with their investment strategy.

“We want to bring forward and support innovative, world-changing ideas so this is a perfect fit,” said The Edge about Nuritas, according to the announcement.

AngelList Acquires Product Hunt to Form a Startup Discovery Powerhouse

Product Hunt, an online community of tech product enthusiasts, is no longer going at it alone.

On Thursday, the three-year-old San Francisco startup said it is being acquired by AngelList, a popular crowdfunding platform for startups and angel investors. Product Hunt declined to share financial terms of the deal, but it will continue to operate on its own as it does today.

Though Product Hunt is still a very young startup, it’s not hard to see why it made the move to sell to AngelList. Product Hunt debuted three years ago, almost to the day—founder Ryan Hoover and a friend, Nathan Bashaw, put together the original version of the website during the Thanksgiving weekend. Hoover had initially experimenting with sharing apps and other tech products with a small group of friends via email newsletters. The site quickly grew in reputation among Silicon Valley insiders and tech enthusiasts everywhere as a place to share and find new or interesting apps, gadgets, and tech tools. It even had a small job board, which was Product Hunt’s first source of revenue.

Since then, Product Hunt has expanded to include other categories such as games, books, and podcasts as well as question-and-answer sessions with tech industry bigwigs.

AngelList, meanwhile, which began in 2010 as an online introduction board for startup looking for seed funding, has grown into a veritable engine for startup job recruiting, networking, and crowdfunding. AngelList pushed into the latter in 2012 when it let startups raise seed money from angel investors through its website. By the following year, it introduced the ability for well-established angel investors to lead so-called “syndicated” investments, or pools of committed capital from other individual investors on a deal-by-deal basis.

But both serve as meeting grounds for folks and companies building tech products, and others interested in using and even investing in those products. Just six months after Product Hunt’s debut, SV Angel invested in a startup it noticed on the site.

AngelList co-founder and CEO Naval Ravikant is also an investor in Product Hunt.

Up next, we’ll likely to see a big push into monetization from Product Hunt. The startup recently began to dabble with revenue models, such as making it easier for visitors to purchase products they find on the site and taking a small cut from the proceeds. Last month, Hoover told business news site Business Insider that it’s gearing up to debut its first significant revenue-generating source in next year’s first quarter. He didn’t provide much detail, but pointed to his website’s enthusiastic audience that’s actively looking to download and try new apps and tools.

To date, Product Hunt has raised roughly $7.2 million in funding from investors including Andreessen Horowitz, Greylock Partners, and Ashton Kutcher’s A-Grade Investments. In the summer of 2014, it participated in Y Combinator’s startup accelerator program.

Here’s Birchbox Co-Founder’s Advice to Other Female Startup Founders

According to Hayley Barna, who co-founded the beauty box subscription service Birchbox and is now a venture capitalist, female founders would benefit from focusing less on the practical when pitching investors.

“Sometimes female founders are frankly too practical,” Barna said on Tuesday at Fortune‘s Most Powerful Women Next Gen conference in Laguna Nigel, Calif.

“But don’t forget to sell the dream,” she added, using a common Silicon Valley term for the inspirational presentations startup founders strive to deliver when presenting in front of investors.

As Fortune regularly reports, there’s still a severe lack of diversity in Silicon Valley across all categories—from employees to startup founders to investors. According to data Fortune compiled in April, less than 6% of decision-makers at top U.S. VC firms are women. Last year, Pitchbook found that startups with at least one female founder accounted for less than 10% of those that have raised funding since 2005. And yet, one VC firm found last year that female startup founders outperform their male peers. Not surprisingly, Barna is now a partner at that same VC firm, First Round Capital.

So how can female entrepreneurs maximize their chances of convincing investors to write them a check?

“Start with how the world is going to be different five years from now because your business exists, and then back it up with the really detailed, awesome plans for what you’re gonna do next,” she advises.

And if they can communicate both of these elements to investors, they’ll be in a much better position than many of the male entrepreneurs who, according to Barna, “walk in saying they’re gonna start the next Facebook and they can’t even back it up.”

Clif Bar’s Former CEO Opens Up About the Emotional Toll of Entrepreneurship

These days, it’s becoming almost trendy for entrepreneurs to openly discuss their depression and other emotional afflictions. They’re getting hip to what some researchers have known for a while: the same obsessive drive that makes a good entrepreneur also has a dark side.

Yet Sheryl O’Loughlin, the co-founder of Plum Organics and the former chief executive of Clif Bar, says this dark side needs to be addressed even more openly.

In fact, it’s the subject of her new book, Killing It! An Entrepreneur’s Guide to Keeping Your Head Without Losing Your Heart. In it, O’Loughlin, who has taught entrepreneurship at Stanford University, tells the tale of her own struggle with personal demons. She hopes those tales and her advice about running a business will start a conversation with other entrepreneurs, and entrepreneurs-to-be.

O’Loughlin, who is now CEO of herbal drink company REBBL, sat down with Fortune to discuss her book.

The following interview has been edited for grammar and clarity. The book will be released onDec. 6.

What was your motivation for writing the book?

O’Loughlin: I had these students who would come in with dollar signs in their eyes, and they were so excited to change the world with their companies. And that was incredible, but as an entrepreneur, there is the great light side, but also a dark side. When people hear about entrepreneurship in the media, it is all about this person who was a huge success [and] who made all this money. Students get the impression that is what it is all about. There is also drug abuse, divorce, depression, and suicide, and those are things that people don’t talk very much about. Entrepreneurs tend to talk about it after they’ve already been through it, and they will say, “I had a really hard ride.” I wanted people to understand this as they go into it, so it is not so scary.

Why do you suppose entrepreneurs have such tough time with depression?

O’Loughlin: As an entrepreneur, you are selling a vision in something that does not exist. You need investors to invest in it and employees to work for you when you can’t pay anything. Part of our job is being optimistic and positive and sunny. But it’s not only depression. We have a higher incidence of attention-deficit hyperactivity disorder and a higher propensity for drug abuse. The psychiatrist Michael Freeman says it’s a spectrum. On the one side, entrepreneurs are obsessive and dedicated and persistent, and that is the light side. That’s what makes them good entrepreneurs. But if I am also this person who is obsessive, it can result in depression.

So is this a business book or a self-help book?

O’Loughlin: There are a lot of gaps this book is filling. Most business books are: Here’s how you start a company. That’s in Killing It, too, and this is part of the story. The other part of the story is life and the human experience of life. That is also connected to the experience of the startup. I go into romance, marriage, children, [and] friendship. I talk about physical and emotional well-being. All of these are important.

O’Loughlin: At the same time I co-founded Plum Organics, my husband started a company that was the antithesis of [fast food]. It was an indoor place to bring your kids, to have creative activities, and healthy food. The day it opened — it had been freezing cold — it was beautiful and sunny, and it stayed that way for a couple of months. Two months into this, he came home and was a white as ghost saying we had run through all the cash. We had to close the doors, with a $20,000 a month lease still on us.

I had also started Plum. And I had a really, really rough investor who would tell me I was the greatest CEO one second, and the next, he would berate me. I would be in a board meeting telephonically, and he would text me that everything I was doing was wrong. I had the stress of starting my company, the stress of this investor, and the stress of my husband who then could not get out of bed for two months because of his depression. I was holding it all together, and over time, I developed an eating disorder.

What have you learned from all of this?

O’Loughlin: I have learned how to make the right choices. I know that every moment does not mean the company will fall apart, and I don’t tie [the company’s success or failure] to my self-worth anymore. That is what creates these demons. I also know how to make the right choice on investors. You need to go through entrepreneurship with a partner who supports you through the ups and down. We can be a tribe of entrepreneurs, who are connected and talk to each other in ways we are not talking now. Think of entrepreneurship in terms of your life as a whole.

“Hopefully, it doesn’t get to the point that they shut down,” Dan Lachica, head of the Semiconductor and Electronics Industries in the Philippines, told Bloomberg Markets.

Electronics count for almost half of the Philippines’ exports and among the U.S. electronic companies in the Philippines are Texas Instrumentstxn and aerospace engineering company Moog mog-a.

Lachica declined to mention which companies have held off on further investment.

According to CNNMoney, Philippine equities have fallen since early August due to Rodrigo Duterte’s volatile conduct. He has variously called U.S. President Barack Obama a “son of a whore,” announced his “separation” from the U.S., attempted to ingratiate himself with Beijing and declared that he wants U.S. troops out of the country.

Rights groups and governments across the world have decried his savage, extra-judicial war on drugs, which has seen thousands of people killed by police and shadowy vigilante groups.

For information on the Philippines war on drugs, watch Fortune’s video:

Last week, Philippines Finance Secretary Carlos G. Dominguez III assured companies of the country’s commitment to U.S. investments in a meeting with top U.S. executives. Despite persistent fears, Dominguez told Philippine media that U.S. companies are not leaving the country.

Xerox Settles Big Investor Battle

Xerox said on Friday it had settled with one of its biggest shareholders who had sued earlier to block a plan for spinning off its document outsourcing business into a new publicly traded company.

Darwin Deason had sued Xerox earlier this month in a U.S. District Court in Dallas over the company’s plan to divide its legacy copier and printer business from its business process outsourcing unit, which would become a new company called Conduent Inc.

Under the terms of the settlement, Deason will get 180,000 shares of Xerox’s preferred stock and 120,000 preferred shares of Conduent.

Deason owns 6.1% of Xerox stock and is the company’s largest individual investor and fourth-largest overall, according to Thomson Reuters data.

The Conduent business includes the operations of Dallas-based Affiliated Computer Services, the company that Deason founded and that was acquired by Xerox for $6.4 billion in 2010.

For more about Xerox, watch:

Xerox announced the split in January and also said at the time that activist investor Carl Icahn would get three Conduent board seats after the spin-off. Icahn disclosed his stake last November.

Xerox Sued By Large Investor Over Plan to Split Company

One of Xerox’s largest shareholders sued the copier maker to block its plan for spinning off its document outsourcing business into a new publicly traded company.

Darwin Deason sued Xerox on Tuesday in a U.S. District Court in Dallas over the company’s plan to divide its legacy copier and printer business from its business process outsourcing unit, which would become a new company called Conduent.

Xerox said in a Thursday statement that Deason’s lawsuit was meritless and the company would seek its dismissal.

The Conduent business includes the operations of Dallas-based Affiliated Computer Services, the company that Deason founded and that was acquired by Xerox for $6.4 billion in 2010.

Xerox announced the split in January and also said at the time that activist investor Carl Icahn would get three Conduent board seats after the spin-off. Icahn disclosed his stake last November. Icahn Associates owns 9.77% of Xerox and is the company’s largest shareholder, according to Thomson Reuters data.

Deason owns 6.1% of Xerox stock and is the company’s largest individual investor and fourth-largest overall, according to Thomson Reuters data.

Deason’s complaint said he obtained preferred convertible stock in Xerox as part of the ACS deal, and that stock will now be marooned in the legacy business after it spins off Conduent, which Deason said was the faster growing business.

For more about Xerox, watch:

Deason asked the court to block the separation of the Conduent business and to declare that depriving him of his right to receive a convertible stake in Conduent violated Xerox’s certificate of incorporation.

Xerox said on Thursday it expects to complete the planned separation of the Conduent business on schedule and that the deal will enhance shareholder value.

Why This Activist Investor Is Pushing for a Shake-Up at Samsung

U.S. hedge fund Elliott Management, known for taking on big targets, is now pushing for changes at the largest company in its investment portfolio: Samsung Electronics.

The activist investor sent a letter to the South Korean tech giant on Wednesday, urging it to pay a special dividend and to streamline its group of businesses and management structure.

Elliott said in a letter sent to Samsung’s board that the company should split into a listed holding company and a listed operating company.

The $27 billion hedge fund also said Samsung should consider other moves to benefit shareholders, including listing its operating company on the U.S. Nasdaq stock exchange, and paying a $37 billion special dividend from its $70 billion cash pile.

Elliott said the new holding company should look at a possible all-stock merger with Samsung C&T Corp—the subsidiary that the New York hedge fund targeted in a heated shareholder battle last year that the hedge fund lost.

Samsung ssnlf, which has a market value of $230 billion, was not immediately available for comment. Elliott, founded by billionaire Paul Singer, owns 0.62% of the company’s shares.

According to a person familiar with the matter, Elliott is seeking to speak with Samsung’s leaders and board, and work with the company collaboratively to implement its proposed changes.

Elliott’s investment comes after Samsung has undertaken a series of moves to pave the way for a stable handover from the ailing Lee Kun-hee, who runs the group, to his three children.

Lee’s son, Jay Y. Lee, is seen as the heir apparent, and his profile at the company has risen during the past few years.

Among the hurdles to the handover is South Korea’s inheritance tax, which could cost the company around $6 billion.

Speculation on how Samsung could restructure its business has loomed for at least a year, with analysts offering up a variety of options, including the so called “opco/holdco” division that Elliott proposed on Wednesday.

Elliott nodded to Samsung’s recent stock buyback, but said its “substantial and excess net cash position comes at a very real and tangible cost to shareholders.”

Samsung Electronics’ shares have risen 27% this year, though by Elliott’s calculations, Samsung’s stock trades at a more than 30% discount compared to peers.

Elliott has also called for three new independent directors on the company’s board.

15 Startup Pitch Videos That Can Help You Develop Your Own

If you think sending a pitch deck to an investor before an in-person meeting is a good strategy, think again, says Alex Iskold, managing director of startup accelerator Techstars NYC.

“The main issue with a pitch deck is that it is subject to misinterpretation,” he wrote in a blog post on the topic. “Investors get a lot of decks and they tend to skim and glance over them.” He also thinks decks fail to capture the passion founders exhibit when they talk about their companies.

His argument: replace the written deck with a video pitch. To test the idea out, he had the founders from Techstars’ NYC Summer 2016 class do exactly that.

Below are the results: 15 pitch videos that were screened for investors at the accelerator’s Demo Day, which took place last Thursday.

This Hip Stock Trading App Is Adding New Features for Investing Pros

The startup has added new features to its app: margin trading, extended trading hours, and instant deposits with higher dollar amount limits. The additions, starting at $10 monthly, are aimed at attracting more experienced investors to its app.

Robinhood Gold, as the new premium service is called, will let users trade on margin, meaning borrow money to buy stocks. How much they can borrow to trade on margin starts at $2,000 and then calculated based on the amount users have in their Robinhood accounts.

Customers will also get an extra half hour before the markets open and an extra two hours after they close to make trades via the app. Instant deposits, previously available for up to $1,000, let users get their money faster than the typical three-day settlement period they have to wait for their money to be processed into their account. As part of Robinhood Gold, users will be able to access their proceeds from a trade for more than $1,000 (the exact amount depends on their account size).

Since it debuted almost two years ago, Robinhood’s app has gained some momentum, especially among young adults, for eliminating traditional trading fees, something its founders believe make it more difficult for young professionals to get started in stock trading. However, the app has also increasingly attracted more experienced investors, although they’ve frequently requested additional features like margin trading, explained Bhatt. In fact, about 75% of Robinhood’s users have previously had a stock brokerage account elsewhere, the company found, making it important that it caters to more experienced investors.

Margin trading is something Robinhood has long planned to add to its app, but executives first wanted to work out the complexities before premiering the service. It’s part of a bundle of new features for Robinhood Gold subscribers, who can choose from three tiers of monthly subscriptions, which include various amounts of money users can borrow trade on margin. Unlike other brokerage services, Robinhood Gold users won’t have to pay extra fees for each additional feature and will instead get all three in one bundle.

Robinhood Gold won’t be available for all U.S. users, however. The company will suggest the new professional version only to users who appear to have enough experience based on an initial questionnaire and have at least $2,000 in their accounts,in line with regulatory requirements. According to Bhatt, the limits are to ensure that inexperienced users don’t find themselves in risky investments such as borrowing money for larger trades and not being able to pay the full amount back.

Subscribers to Robinhood Gold will only pay the monthly fee for the service, with no additional fees for trading. In all, it works out to about 6% in annual interest for the margin trading, according to Bhatt. The $10 monthly fee gives customers the smallest amount available for margin trading, which is $2,000 of additional money to invest. The two higher tiers depend on the amount in the user’s account and are priced accordingly. The most expensive tier lets them borrow about the same amount that’s in their account, while the middle tier gives them about half of that amount.

To date, Robinhood has processed more than $12 billion in transactions. The company, which has 1 million users whose average age is 30, has raised $66 million in funding.